I find it odd when people say "Monk," because then I have to translate it in my mind to "Black Belt."

But, of course, I like to go with the classic Fighter/Theif/WhiteMage/BlackMage. I always noticed, though, that the game automatically starts you out with Fighter/Theif/BlackBelt/RedM. I have yet to try that, but I think I might next.
I don't go for "challenge parties" because, well, I challenge myself in more fun ways. When i was a kid, we would try to push the envelope when it came to leveling, so that we would try to find the lowest possible level to get through a dungeon with. Like, if the strategy guide said that the recommended level for the Marsh Cave was 5-9, we would go with 4. I always remembered the Blue Dragon to be the challenge of the Mirage Tower/Floating Castle. It was a miracle if we even reached Tiamat. But, the game was 50 times more exciting for us, and seeing those ending title screens and hearing that music was so much more fulfilling. Now, I find it difficult to push myself quite that far, but I still do it to a certain extent.